American Pacific Mining: Drilling for Big Copper & Gold Gains

Summary

American Pacific Mining is gearing up for a significant 15,000-meter drill program at its Madison copper-gold project in Montana, a past producer that yielded 2.7 million pounds of copper at exceptionally high grades, some reaching up to thirty-five percent. The company also holds the Red Hill gold project, located just twelve kilometers from Barrick's Gold Rush discovery, where previous drilling encountered a hundred-plus meter zone grading over five grams of gold per ton. American Pacific is in a strong financial position, with nearly twenty million dollars in equity holdings, twenty million dollars in potential milestone payments, and fourteen million dollars in cash, largely covering its forty-five million dollar market capitalization. This robust financial backing allows them to aggressively pursue exploration without immediate need for further financing. The company focuses on high-grade assets in the western United States that are attractive to major mining companies. CEO Warwick Smith, previously recognized as CEO of the Year by S&P Global Platts, highlights copper's critical role in modern life and the projected supply deficit, emphasizing the strategic importance of U.S.-based projects. Success at Madison could come from identifying additional high-grade 'scarn' bodies or hitting a deeper 'porphyry' deposit, similar to discoveries made by companies like Hercules and Kem Fischer. The company also plans to explore other Nevada assets, aiming to grow its equity portfolio to approximately fifty million dollars.